TO: CRA Board of Commissioners
FROM: Joan K. Goodrich, Economic Development Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: June 11, 2018
Title
DELRAY BEACH COMMUNITY LAND TRUST - 2nd Quarter FY 2017-18 A-Guide Report
Body
Recommended Action:
Recommendation
Receive and file.
Body
Background:
The CRA awarded the DBCLT a $194,700 A-GUIDE grant which represents 25% of the DBCLT’s $777,050 annual budget. The A-Guide grant focuses on affordable housing and was awarded specifically to:
1) Develop housing units for very-low to moderate income households (Sustainable Homeownership Services); and
2) Provide affordable rental units that meet the needs of households within the CRA target area (Rental Housing)
Below are highlights and a snapshot from the CLT’s 2Q FY 2017-18 report ending March 31, 2018.
Delray Beach Community Land Trust Highlights from Evelyn S. Dobson, Chief Executive Director
See attached letter dated April 30, 2018.
Program Snapshot: Sustainable Homeownership Services & Rental Housing
Funding Amount: $194,700 Program Budget: $777,050 % of Budget: 25%
|
Select Key Program Metrics |
Annual Total |
2Q Totals |
Year to Date Totals |
|
Total Homebuyer Applications |
10 |
4 |
10 |
|
New Certificates of Occupancy |
5 |
0 |
1 |
|
Executed Purchase & Sale Contracts |
5 |
2 |
4 |
|
Vacant Lots Acquired for New Single-Family |
3 |
0 |
3 |
|
Total Homeownership Education Attendees |
50 |
17 |
41 |
|
Developer Fee Income |
$49,500 |
$20,277 |
$20,277 |
|
Rental Housing Lease Agreements |
42 |
8 |
17 |
|
Annual Rental Housing Income |
$150,460 |
$116,525 |
$236,817 |
Attachment(s): Delray Beach Community Land Trust 2Q FY 2017-18 A-Guide Report
CLT Quarterly Newsletter
CRA Attorney Review:
N/A
Finance Review:
N/A
Funding Source/Financial Impact:
CRA G/L #: 7376 A-Guide Funding
Timing of Request:
N/A